The global plush blanket market is all set to snuggle its way towards a projected value of USD 787 million by 2033, fueled by a Compound Annual Growth Rate (CAGR) of 5.4%. This warm and fuzzy market is witnessing a surge in popularity, driven by innovation and versatility.
Looking Forward: A Snug Future for Plush Blankets
The plush blanket market’s future looks bright, driven by:
- Continuing Innovation: Manufacturers who focus on developing even softer, more innovative materials and designs are well-positioned for success.
- The Rise of “Hygge”: The growing global trend of “hygge,” emphasizing coziness and well-being, further fuels the demand for plush blankets.
- Multifunctional Appeal: The versatility of plush blankets as a source of comfort, warmth, and style ensures their continued relevance in modern homes.
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The market for plush blankets is projected to rise as a result of the real estate sector’s rapid improvement. Sales of luxurious blankets are increasing as more upscale bedding becomes available for home use. People who have well-decorated homes are more hospitable and more motivated and interested to work from home. Plush blankets additionally offer premium along with fancy bedding assistance to customers, as well as aesthetic delight.
The market for plush blankets is anticipated to develop as internet usage increases and online distribution channels like Walmart and Amazon continue to grow. One of the main elements influencing the selling of plush blankets via online channels is the superior convenience and accessibility of a broad selection of items. India’s expanding infrastructure is opening up opportunities for investments in the hospitality industry, particularly in hotels and resorts. The presence of several multinational hotel chains is growing in India, which is anticipated to drive sales of plush blankets within the commercial sector in India during the course of the assessment year.
Key Takeaways from the Market Study
- Between 2018 and 2022, the demand for plush blankets increased at a 4.6% CAGR.
- In 2022, the residential sector was estimated to have 31% of the market share for plush blankets overall.
- Over the projection period, demand for plush blankets of the twin size is anticipated to grow at a 5.2% CAGR.
- Sales of plush blankets through online channels are anticipated to grow at a 7.2% CAGR until 2033.
- The market for plush blankets in Russia is anticipated to grow at a 4.8% CAGR over the forecast period.
- Over the course of the assessment period, plush blanket sales in the United States are anticipated to increase at a 4.9% CAGR.
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“The growing popularity of plush blankets has been fueled by the increased use of plush, lightweight materials that provide precise warmth,” remarks an FMI analyst.
Competitive Landscape
Leading companies in the worldwide plush blanket market are putting a lot of effort into research and development in order to introduce cutting-edge goods and services to the market. Well-known businesses are also attempting to form strategic alliances with local distributors and consumers in order to increase their market presence.
Prominent players in the plush blanket market are:
- L.Bean Inc.
- Bed Bath & Beyond Inc.
- American Blanket Company.
- Sunbeam Products, Inc.
- Home Depot Product Authority, LLC.
- Bare Home
- Utopia Deals
- FleecePro
- Plush Addict
- Shannon Fabrics Inc.
- Robert Kaufman Fabrics
Some key developments of the leading companies in this market are:
- A personalized Space Shuttle Launch Rocket Plush Blanket is available from PIXERS.
- Jay Franco & Sons, Inc.’s Avengers-themed plush blankets are available through Zulily, LLC.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global plush blanket market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the plush blanket market, the market is segmented on the basis of plush blanket by type (twin, twin XL, full, queen, king), sales channel (direct sales, hypermarkets/ supermarkets, specialty stores, online retailing, convenience stores), end-use (residential, commercial) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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